A step-by-step guide on how to buy & store the Dcorp (DRP) cryptocurrency

What is Dcorp?

A decentralized VC firm - the world's first derivatives exchange on the blockchain.

Disclaimer

DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS SITE. The author is not registered as an investment adviser either with the U.S. Securities and Exchange Commission (the "SEC") or with the U.K. Financial Conduct Authority (FCA). The author is neither licensed nor qualified to provide investment advice. This guide is not and should not be interpreted as investment advice, a recommendation regarding a course of action or as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative and complex, and they involve significant risks­—they are highly volatile and sensitive to secondary activity. Performance is unpredictable, and past performance is no guarantee of future performance. Consider your own circumstances and obtain your own advice before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant regulators' websites before making any decision. The author may have holdings in the cryptocurrencies discussed. All product names, trademarks, brands, photographs and logos are the property of their respective owners.

June 2018: The cryptocurrency exchange used in this guide, Etherdelta, is no longer regarded as reliable or safe to use. We advise you not to use it. This guide will be updated if/when Dcorp is available on a reputable exchange.

How to buy Dcorp

Important notes: The links in this guide are correct as to the best of our knowledge. It is your own responsibility to double check that clicked links look correct in your browser bar, and that any wallet you install on your computer is from a legitimate source.

It's highly recommended to have quality virus/malware protection on your computer, such as Bitdefender, before buying cryptocurrencies.

For this guide we'll be using the easiest & most convenient wallet option for storing your Dcorp coins- provided by MyEtherWallet (which can store any coin on the Ethereum blockchain, including Dcorp).

Go to myetherwallet.com and enter a password that would be hard to guess (but which you won't forget!).

Note: if you forget this password you might lose access to your coins.

Press 'Create New Wallet'.

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Click 'Download Keystore File'. Be sure to read and understand the warnings.

It's very important that you back this file up somewhere safe (think multiple external hard drives and/or USB drives that you put somewhere safe).

Once you've done that, click 'I understand. Continue.'

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Now you will be given a powerful unencrypted private key to your wallet.

Note: Never give your private key to anyone. If you do, they can open your wallet and take your coins.

Consider printing out your private key and storing it somewhere safe- then deleting all references to it from your computer. Why? Because sometime in the future you might get a virus, or malware, or visit a website with an advert that has malicious code.

These things will target a private key, as it's an easy way to open your wallet and steal your coins.

So why print out your private key at all, if it's so insecure? Because it's your last resort. If you lose your keystore file (e.g. your computer gets wiped or damaged), or if you forget your password, with your unencrypted private key you can still access your account as a last resort.

There is also an option to print a paper wallet (which displays everything you'd need to access your wallet).

If you choose to print this, treat it just like the Keystore file you just downloaded- keep it hidden and keep it safe.

Next, click 'Save your address'.

Important Note: We all hear of computers and phones being hacked. Websites running illicit code to steal passwords. Phishers tricking people into clicking links that steal information from their computers.

Another line of defence to keep our coins from being siphoned out of our wallets is essential.

And that's a hardware wallet.

Hardware wallets plug into your computer like a USB stick, and they have one job- to be a firewall between your Dcorp and the outside world.

To do this, they encrypt the private keys to your cryptocurrency wallets so that no-one- not even you- can know them. That way only someone with physical access to your hardware wallet- and who also knows its password- has a chance to access and move your coins.

Which hardware wallets support Dcorp?

Hardware wallets made by Ledger and Trezor support the storage and sending of Dcorp.

There are also some other exchanges (but without step-by-step guides) listed here.

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If you use this link to sign up to Coinbase we'll both receive ten dollars of free coins when you spend over $100 (or the equivalent in your currency).

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Press the 'sign up' button and fill out your name (make sure this is exactly how it's written on your photo ID), email and a password.

Just like a US bank, Coinbase is regulated by the US government, and has to follow strict financial rules. So they take verifying your identity very seriously. It's a pain, but it does give Coinbase a reputation for being the most trusted way to convert fiat currency to cryptocurrency.

To verify your account you must supply a phone number, upload an image of your photo ID and verify a credit/debit card or bank account before you can buy.

If the Ethereum / Dcorp exchange is not preselected (it will say DRP next to the Etherdelta logo) click on whichever coin name is there instead to access a drop down menu- find DRP in there and click it.

Note: If you ask for help in the Etherdelta chat channel, people claiming to work for Etherdelta may ask for your private key to help you. These are scammers- never give your private key to anyone.

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Along the top menu, click 'Select Account' and then 'New Account'.

You will be presented with a new Ethereum wallet address and its private key.

Copy both of these down somewhere safe.

Note: if you lose this private key you may lose access to your coins.

Once you have the information saved, press 'OK'.

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Now, return to Coinbase.

Click 'Accounts' from the top menu, then find your Ethereum wallet listed on the left.

Click 'Send'.

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In the 'Recipient' box, paste the Ethereum wallet address we just copied from Etherdelta.

In amount, type how much Ethereum you wish to send (there is a 'use max' option if you wish to send it all).

Click 'Continue'.

Coinbase may ask you to confirm with your password/phone. Follow the instructions until it confirms the Ethereum are sent.

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Go back to Cex.io

Press 'Withdraw' on the top menu.

Under 'Select currency and amount' click 'USD' and select 'ETH' in the drop down menu.

Input the amount of Ethereum you're sending.

In the box labelled 'Enter the recipient's address below' paste the Ethereum wallet address we just copied from Etherdelta.

Before we do any trading, we're going to adjust the 'gas' amount that our Etherdelta transactions consume. This will help keep things moving swiftly, as Etherdelta's default settings can mean long waits for coins to move.

On the top menu click the furthest right button, then select 'gas price'.

In the popup that opens, you want to type a minimum of '30', and then click 'Set gas price'.

Note: If you don't set a high enough gas price your transactions can be very slow, or even fail, so we encourage you to visit this site and pay attention to what the 'Recommended gas price' is at this moment. We suggest setting your Etherdelta gas price to be the same as the 'Gas Price (gwei)' number suggested for 'Standard (<5m)'.

Now we have to move that Ethereum so that it's available to trade. Beneath 'ETH' In the box marked 'Amount' enter how much Ethereum you're ready to trade for Dcorp.

Note: Do not enter the whole amount of Ethereum. You need to leave a little in this wallet to cover gas fees. For example, if you have 10 Ethereum to trade, enter 9.95 in this box.

Once you're happy with the amount, press 'Deposit'.

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A pop-up will appear to let you know you're moving the coins. If you wish, you can click the link it gives you and watch the transaction take place on the Ethereum blockchain.

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Once the Ethereum has moved to the 'Etherdelta' column in your balance you're ready to trade.

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Look at the 'Order Book'. This is telling you the current buy and sell orders for DRP. The red orders are users wanting to sell DRP, the green orders are users wanting to buy DRP.

Let's look at each column by itself:

DRP/ETH - this is the ratio of one coin to the other, for example, 0.01 in this column would mean 0.01 Ethereum will buy you 1 DRP.

DRP - this is the number of DRP that the user wants to buy or sell.

ETH - this is the amount of Ethereum that the transaction will cost.

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Buying option one

The first (and easiest) way to buy DRP is to simply click a (red) sell order, and in the pop-up that appears press 'Buy'.

Note: There are sellers who purposefully list coins at a bad exchange rate in an attempt to trick users into paying too much. Be very careful to check that the sell order is offering a fair price. Use this calculator to be sure you're getting a reasonable exchange rate of Dcorp to your Ether.

You can edit the amount of DRP you're buying in the 'Amount to buy (DRP)' box if you don't want to buy the full amount of the order.

If the exchange is successful a pop-up will appear with a link to the transaction on the blockchain.

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Buying option two

The second option (and one we do not recommend for first time users of Etherdelta) is to buy DRP by using the 'New Order' option.

In the 'DRP' box type how many DRP you'd like.

In the 'DRP/ETH' box type the ratio you'd like to buy at. Be very careful- Etherdelta has become notorious for users being confused by what ratio to use and exchanging their Ethereum at a terrible rate.

For a good idea of what ratio to use, look at the top buy order for what the going rate is- in the example image it is 0.011. This translates as 0.011 Ethereum coin buying 1 DRP coin.

The next box, ETH, will automatically fill with the amount of Ethereum this transaction is going to cost. If this looks correct, go ahead and press Buy. The order will go onto the exchange. It will either be filled by a seller, or will eventually expire, which means your Ethereum will be returned to your trading balance unspent.

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If you used buying option one your DRP will soon appear in your Etherdelta wallet.

If you used buying option two, the DRP won't appear until your order is filled.

Either way, once the DRP is in your wallet, you're going to want to move it to your Myetherwallet address.

In the 'Balance' box press 'Withdraw', and in the box under DRP, type the amount of DRP in the Etherdelta column.

Press 'Withdraw'.

A pop-up will give you the transaction address if you wish to view it on the Ethereum blockchain.

Your DRP will take a few minutes to move from the 'Etherdelta' column to the 'Wallet' column. When it has, this means the DRP are currently residing in the wallet we created in step .

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But we don't want it there, we want it in the secure and backed up wallet we created in step 5. So, in the Balance box, click 'Transfer'.

In the box under DRP write the amount of DRP in your wallet.

Replace the current wallet address with your Myetherwallet wallet address- the one we copied down in step 5.

Note: You CANNOT store Ethereum tokens, such as Dcorp, on Coinbase. If you send your Dcorp to Coinbase you will lose them.

Click 'Transfer'.

Note: We suggest you do a test transaction first using a small amount of DRP.

A pop up will appear with the transaction reference on the blockchain.

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Go back to MyEtherWallet.

You should now see the Dcorp (abbreviated to DRP) in your wallet under 'Token Balances'.

Not all newer tokens automatically show in your token balance list. If this is the case with your Dcorp, follow this tutorial to have them show up.

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One note of importance is that the example wallet in this guide has no Eth in it. Why is that important?

Dcorp coins exist as a token on the Ethereum network. To move Dcorp coins across that network costs 'gas', which are in the form of Ether coins. If in the future you want to move your Dcorp coins to another address, you're going to need some of those Ether coins to power the transaction.

You already know how to buy Ether, but you can use this guide if you're still unsure how to move them to your personal wallet.

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What about when you're ready to sell your Dcorp?

You simply reverse the order of tasks you performed in this guide.

For example, you send your Dcorp to Etherdelta, exchange it for Ethereum, send that Ethereum to
CoinbaseCex.ioCoinmamaLocal Bitcoins and sell it for your preferred currency.

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